Showing 1 - 10 of 10
Persistent link: https://www.econbiz.de/10011997518
Persistent link: https://www.econbiz.de/10012234656
Persistent link: https://www.econbiz.de/10012234663
Persistent link: https://www.econbiz.de/10012244584
Persistent link: https://www.econbiz.de/10012271115
Using US data, we estimate optimal policy with a probability below one that the Fed reneges on its commitment ("limited credibility") versus discretionary policy where the Fed reneges on its commitment at all periods with a probability equal to one ("zero credibility"). The transmission...
Persistent link: https://www.econbiz.de/10011695111
This paper compares different implementations of monetary policy in a new-Keynesian setting. We can show that a shift from Ramsey optimal policy under short-term commitment (based on a negative feedback mechanism) to a Taylor rule (based on a positive feedback mechanism) corresponds to a Hopf...
Persistent link: https://www.econbiz.de/10011695130
Persistent link: https://www.econbiz.de/10012000078
Persistent link: https://www.econbiz.de/10011997474
Persistent link: https://www.econbiz.de/10012234793